2017-10-16 08:59:00 News English https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/10/FB-Post_2.jpg The Future of Entrepreneurship: Generation Z

The Future of Entrepreneurship: Generation Z

1 min read

Gen Z is more inclined towards on-demand work more than any other generation

From the rise of automation to the explosion of the on-demand and sharing economies, Intuit Canada’s latest report “Generation Z & the Future of Entrepreneurship” shows how seismic shifts in the modern economic landscape has impacted the newest generation of workers’ – Generation Z – attitudes towards their careers and entrepreneurship. 


Gen Zs are most likely to take on a “side hustle” on top of their nine-to-five

Influenced by the increasingly common side hustle and the rise of services like Uber and Airbnb, Generation Zs are more likely than any other demographic to look beyond the 9- to-5 supplement their income.

  • One in two (52 per cent) Gen Zs would consider on-demand work to make extra cash, a whopping 17 per cent more than the national average.
  • One in two (48 per cent) Gen Zs would be interested in freelance or on-demand employment for future careers, and two in three Gen Zs (64 per cent) would consider entrepreneurship.


Salary doesn’t equal success for Gen Z, and neither does a traditional career

Intuit’s research found “entrepreneur” topped the list of dream careers (40 per cent), beating out more traditional jobs like doctor (37 per cent), banker (27 per cent) and lawyer (25 per cent).

  • Nearly one in two Gen Zs agree that flexibility is more important than salary when it comes to their career.
  • Nine in ten (89 per cent) Gen Zs want a career that offers good work/life balance, and eight in ten (78 per cent) want to do something that makes a difference.


Canada’s self-employed economy is expanding dramatically

Members of Generation Z were brought up in the economic crisis and have witnessed firsthand the shifting nature of work and explosion of the freelance economy. In fact, a recent report from Intuit Canada in partnership with Emergent Research projects that freelancers, independent contractors and on-demand workers will make up 45 percent of the workforce by 2020.

As the next generation of aspiring entrepreneurs enters the workforce, it’s critical that we equip them with the tools, skills and resources they need to thrive. Canada’s economic future depends on it.

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SURVEY METHODOLOGY

Edelman conducted an online omnibus survey amongst a representative sample of 1,500 Canadian residents over the age of 18. The estimated margin of error for the total sample is +/- 2.5%.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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